KARACHI: Finance and Economic Affairs Minister Dr Shamshad Akhtar visited Pakistan Stock Exchange (PSX) on Saturday and discussed the ‘development of country’s capital market roadmap’ which was prepared by the Capital Market Development and Reforms (CMDR) Committee under her instructions.

It was her third visit to PSX since assuming charge in the caretaker setup.

A press statement by the PSX stated that the minister said that she was in contact with Finance Minister-Designate of the newly elected government as well as the Asian Development Bank for possible support in the areas of technical assistance and capacity building.

The roadmap has been devised in order to have a proper plan in place to enhance the market capitalisation, continued resource mobilisation and strengthen the role of the stock exchange to boost investor confidence. The plan suggests measures to mobilise more foreign inflows and savings for investments.

PSX CEO Richard Morin briefed Dr Shamshad on the progress attained to date and stated that the bourse’s board had approved a strategic plan just a day earlier. The participants of the meeting, who represented banking industry, asset management companies and securities brokerage, drew attention towards impediments in the development of capital market and suggested a number of measures to remove them.

They suggested the issuance of a comprehensive policy statement from the Ministry of Finance, reforms in taxation policy to provide level playing field to investors of capital market, restructuring of policy board of the Securities and Exchange Commission of Pakistan and requirements of enhancing capital and capacity of brokerage houses.

Published in Dawn, August 12th, 2018